State-owned Vietnam Posts and Telecommunications Group (VNPT) is close to combining its two mobile operators, VinaPhone and MobiFone, the company’s deputy CEO Lam Hoang Vinh was quoted telling VietNamNet.
This comes after Vietnam’s Ministry of…
State-owned Vietnam Posts and Telecommunications Group (VNPT) is close to combining its two mobile operators, VinaPhone and MobiFone, the company’s deputy CEO Lam Hoang Vinh was quoted telling VietNamNet.
This comes after Vietnam’s Ministry of Information and Communications reportedly gave the green light to the merger plan. However, the ministry was quoted as denying the information, explaining that no decision has been made yet.
Under a decree effective from 1 June 2011, a company that owns 20% or more of a telecom operator is not allowed to hold more than 20% of another operator in the same market.
Shortly after, VNPT submitted a first merger plan for MobiFone and VinaPhone, respectively number one and number three in the country. It was then asked to resubmit a final plan before the end of March.
Last year, Vietnam still had seven mobile operators. But with VNPT now set to merge its assets, and rival Viettel acquiring struggling EVN Telecom, the country is seeing the first steps of a much-awaited consolidation wave.
VNPT could not be reached for comment before the press deadline.
